Facebook, Inc. (NASDAQ:FB): Wednesday, Kleiner Perkins VC Mary Meeker stood up for Facebook, but did note that Kleiner did not make even one investment in a $1B fund in Q1 because “the private market is a bubble.” Facebook shares are 29% lower than their $38 IPO price; Pivotal Research is upgrading shares to Hold due to valuation, and Topeka Capital is beginning coverage at Buy.
Zynga, Inc. (NASDAQ:ZNGA): At the All Things Digital conference Wednesday, Reuters reports that Zynga CEO Mark Pincus said that the lowering of late in company stock price has not damaged employee recruitment. Baird’s Colin Sebastian has upgraded shares to Outperform thanks to its lower valuation and a game refresh to come. Sebastian also noted that Facebook’s expanding focus on mobile devices ought to strengthen Zynga’s mobile position, and that his checks point to other developers “shifting away from Facebook” in part thanks to Zynga’s “most favored nation” status. The price target for Zynga is $13; shares traded up 2.56% ($0.15) recently at $6.018.
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